Silver gained around 1% yesterday. However, precious metal began to pull back during the Asian session and a classic reversal pattern may be building up on the chart. Taking a look at SILVER at H1 interval, we can see that price may have painted the right shoulder of head and shoulders pattern. Key support, marked with the neckline of the pattern, can be found at $27,10. This area is additionally strengthened by previous price reactions. Should SILVER break below this hurdle, downward move may accelerate. The nearest resistance to watch can be found at $27.65 - breaking above this level will invalidate the aforementioned head and shoulder setup.
Source: xStation5
European TTF gas futures hit highest level since 2022 as inventories remain low ahead of winter
Market Wrap: A sunk tanker drags european stocks lower
Daily Summary: NFP Spooks Wall Street, Oil Back Near $100
🚩 Cocoa futures down 3.5% as ICE inventories rise to 2-year high